You'll have to get a survey done to see if each property would meet the zoning set back requirements to even be able to subdivide them.

It is free for first time attendees, and memberships are very affordable and a great value. 

Once I make my first positive income from REI, I'm definitely going to upgrade to the PRO membership (with a discount code, of course), if nothing else, as a way of saying thank you to all the great ppl that work to make this site so informative.

I have hooked into what BP has to offer and looking into the membership.

For these properties you have to conduct a rent survey and base your purchase off market rents.

The survey will most likely get paid at closing and you'll get a check for the cash back amount less the closing costs.  

They are $290 if you pay all at once, and the annual memberships are rising on 11/15/17, per @Joshua Dorkin's email that just went out this morning...if you sign up before the increase, you'll be grandfathered in at $290 for next year.

It's newer to me, and I'd be diversifying away from the HOA/cookie cutter style rentals that we currently  deal in. 1) In a quick survey of the two areas they seemed FILLED with for sale properties so is it right now a buyer's market there?

The expense of the condo conversion depends on what is needed to achieve the standards demanded by the market - in addition to the application fees, zoning fees, lawyer fees, permit fees, survey fees, etc.

But many times they dont have a search or survey and you may have to gamble a little by paying for a search up front only to find a bunch of leins.